Opening Options

Status:

The transfer scheme

54.—(1) Before such date as the Department may direct, the Holding Company shall make a scheme (the “transfer scheme”) for the transfer to the successor company or the Department of—

(a)specified airport assets and airport liabilities of the Holding Company; and

(b)specified assets and liabilities of NIAL.

(2) On such day as the Department may by order appoint (the “transfer date”)—

(a)such specified assets and liabilities as are allocated under the transfer scheme to the successor company shall, by virtue of this paragraph, become assets and liabilities of that company; and

(b)such specified assets and liabilities as are allocated under that scheme to the Department shall, by virtue of this paragraph, become assets and liabilities of the Department.

(3) The provisions of Schedule 7 shall apply in relation to any transfer effected under paragraph (2); and that paragraph shall have effect subject to the provisions of that Schedule.

(4) The transfer scheme may—

(a)specify the assets and liabilities to be transferred to a particular body by describing or identifying them in such manner; and

(b)make such supplementary, incidental and consequential provisions,

as the Holding Company considers appropriate.

(5) The provisions of the transfer scheme shall bind the Crown, including the Crown in right of Her Majesty’s Government in the United Kingdom, to the full extent authorised or permitted by the constitutional laws of Northern Ireland.

(6) In this Article “specified” means specified in the transfer scheme.

Print The Whole Part

Print The Whole Cross Heading

Print This Section only

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Opening Options

Different options to open legislation in order to view more content on screen at once

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

the original print PDF of the as enacted version that was used for the print copy